variable-rate certificate of deposit

A certificate of deposit that pays a rate of interest that changes at predetermined intervals according to a specified formula or a key interest rate. This savings instrument is most appropriate if the investor expects short-term interest rates to rise before the certificates mature.

NEW YORK -- On the effective date of June 28, 2012, Fitch Ratings will confirm the short-term 'F1' rating assigned to the $50,000,000 Eastern Municipal Water District (EMWD) water and sewer revenue variable-rate certificates of participation, series 2008G (the COPs).

The district also faces some refunding risks related to outstanding variable-rate certificates of participation (COPs), which were issued by a predecessor district in anticipation of GO refunding when AV rose to support the bonds.

Also, the city intends to issue $48 million in certificates of participation (COPs), half of which will be structured as variable-rate certificates, and developer fees would first pay debt service on the COPs (estimated at $2 million), with remaining amounts then reducing internal loans.

21, 2009, Fitch Ratings will upgrade the short-term rating to 'F1+' from 'F1' and confirm the long-term rating of 'AA+' assigned to Mecklenburg County, North Carolina variable-rate certificates of participation (COPS, or the certificates) (2006 Mecklenburg County).

NEW YORK -- Fitch Ratings will confirm the long-term 'AA' rating and upgrade the short-term rating to 'F1+' for the City of Raleigh, North Carolina variable-rate certificates of participation (COPs) $140,000,000 series 2005B-1 and $48,425,000 series 2005B-2 in connection with the substitution of the liquidity facility currently supporting the series 2005B certificates.

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